Pharmacy Benefit Managers (PBM)
With enormous amount of opportunity, it’s about asking the right question.
In an ever-changing landscape, we believe the way to win is to innovate and provide value to your clients and utilize your organization’s assets effectively and strategically.
Why we are different
Barus Consulting has first hand experience working across PBM verticals and we understand the value-drivers for the clients you serve. As the industry changes, we can help you build and manage effective benefits within new growth areas or simply find improvements in existing operational processes.
Developing and managing formularies, better.
The formulary is a critical component to any organization who is managing a drug benefit. Oftentimes, we see opportunity that is overlooked, whether it be in quality improvement, financial, or operational, all while accounting for the trade-offs for each vertical.
Rebates & Trade
Value through analytic modeling.
We work closely with Trade, Actuary, Formulary, Clinical Ops, and other departments to build tools that drive significant organizational value. A recent client was able to boost rebate revenue to over $2B dollars annually with insights and models that we’ve built. With a pharmacist-led team, we can shortcut back-and-forth in a organization to efficiently align incentives and provide Trade teams with the information they need for negotiation.
Quality, Access and Coordinated value.
Pharmacy networks are the cornerstone to patient access. In developing or managing a pharmacy network, there are multiple aspects to consider, such as closed networks, quality measures, sufficient access network and more. Many times, network development involves cross-functional teams to work together in assuring all business objectives are met. Pharmacy networks are a powerful tool to drive better quality care.
Process improvement & program alignment.
Clinical Operations is a key function within any healthcare organization. It oftentimes accounts for a significant cost in a company’s expense and is required for management of healthcare plans. In addition, requirements from various regulating bodies make it difficult to maintain.
Pricing & Reimbursements
Understand incentives and opportunities.
The pharmacy payment ecosystem is complex. Our expertise lies in the experience we have from multiple pharmacy perspectives in Retail, LTC, Insurance, PBM, Mail Order, and others. By accounting for the perspectives, and understanding the incentives of each party, we help drive strategic growth engines for our clients.
Strategic alignment between teams to improve outcomes.
Reviewing formulary, network, trade and pricing strategies to attract a retain beneficiary’s and to promote positive health change with lower overall costs. We can help identify areas of improvement and deliver value-add strategies.